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Nov 25, 2009 7:00pm EST
to moderate the international market for the benefit of the reduces and consumers. america, the united states is one of our major trading partners. we supply an essential part of the oil in the united states. of course, a little oil also goes to europe, so half and half, europe and north america. and finally to other various trading arrangements. we believe that the current market situation is one that has to be handled with such a mind of delicacy because in the process of recovery and intel it's fully recovered, we will have to be careful how much oil we put in the market retries if we're not careful then it could try the prices very low, like they went as low as $30 a barrel at the height of the economic problems the world experienced over the past year or so. we are hopeful that the recovery of the national oil will continue. in which case, we will be able to reduce an export more. we have, i'm sure you have heard about the recent problems in nigeria, which resulted in serious demolition of our capacity to produce and damage to our oil infrastructure. but with the recent fortune and occur
Nov 25, 2009 7:30pm EST
, we have a very robust in my views, very good work. we are not looking to the united states or europe for crude oil. we are looking more towards india and china and developing countries of africa. in the rate of growth for china has come out very strongly. so has india to a point. and this is where the incremental divide is going to come from, not from the united states or western europe. and this recovery continues, we think we should be able to sell as much oil as we are selling now. and if it is a bonus and a growth in europe and north studl amounts, then there may be room for some more incremented in the quantity of oil that we put back. at the moment, i don't see that as such a likelihood, but what i said was in the event of the international market calling for oil in order to keep prices within reasonable level and we are ready to put more out. [inaudible]
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